Always Negative Responses When I Talk About Real Estate

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Always Negative Responses When I Talk About Real Estate

Nick NoonPro Member
Chelmsford, MA · Member since 2015 · 124 posts · 70 votes

I'll never understand why 99% of the time people have negative responses when I tell them I am trying to get into real estate and rental properties.  I mean literally every time I tell someone about it I get one of the following responses:

"You think you do, but you don't"

"It's not easy"

"You'll end up with horrible tenants and want to get rid of it"

"What happens when your tenant doesn't pay?  You can't get them out of the house"

"What happens when the economy falls to pieces and you can't rent the property"

Like, yes I get it, it's not an easy industry.  I never said it was.  I understand that being a landlord isn't the most glamorous job in the world and a lot of people fail at it....even the people who have given me those responses.  Everyone I talk to has either had rental property that they hated, or knows someone that hated it. 

I don't understand what they expect me to say to these responses?  "Okay, now that you've told me that it's hard, I'm definitely not going to do it".  

I think there is a lot of ignorance to the industry.  I think a lot of people come into the industry ill-prepared and fail at it and there is this persona of how horrible it is to own real estate.  Even when I give them responses to these questions such as:

"I know it's not easy, but if you don't take a risk, there is no reward"

"Well I plan on thoroughly screening my tenants to mitigate the risk"

"I will evict the tenant if they don't pay by following the processes set forth by local legislation" 

"I plan on having multiple exit strategies"

It doesn't matter what you say to the nay-sayers, they still think you're crazy for even trying to get into it and that failure is a certainty. 

But I just use it as fuel to work even harder at it.  I look forward to seeing them later on and telling them how well I am doing at it.  I am not satisfied just working my job and collecting a pay check (i love my job and I have a very good career).  I just need more.  

Sorry for the rant, but it's just frustrating how many people want to see you fail at real estate because they heard it's not easy.  

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Dev HornPro Member
Flipper/Rehabber · Arlington, TX · Member since 2013 · 1k+ posts · 2k+ votes
10y

"There is only one way to avoid criticism: do nothing, say nothing, and be nothing." ~ Aristotle

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  • Lexi Colt
    Cincinnati, OH · Member since 2014 · 30 posts · 8 votes
    10y

    Brutal Truth - Everything 'they' are telling you is true - for who it happened to. This isn't for everyone and it may not be for you. And that's OK! In fact certain parts of it work better for each of us. 

    Having said that - Less Talk, More Action - is the best cure. It's hard to put down someone with a track record. Next thing you know they'll be calling you up asking for your help. Trust me on this one!

    2Reply
  • Joseph Caracappa
    Investor · Santa Rosa, CA · Member since 2012 · 127 posts · 90 votes
    10y

    @Nick Noon

    I just wanted to add that not all naysayers are bad people, for instance you might have a mom telling her child not to hit a jump on his motorcycle. She is letting her own fear get in the way of her child growing and getting better. But she thinks she is protecting the child. And you do have people that are flat out miserable, and they just hate everything in life. And every type of person in between. We can learn something from anyone who walks into our lives if we choose to, the people that are telling you it won't work might be great at build relationships, organization skills or time management ect. Just don't take investment advice from them. Two things I have learned is that are job is not to understand "why" people do what they do, our job is to understand "why" we want what we want. And never do things to prove someone wrong, do it to prove to yourself that you can do it. Just my toughts.

    Best of luck bud! 

    3Reply
  • Michaela G.
    Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
    10y

    All the things you mention have happened to me. And guess what? I don't regret it. I bought at the right time, at the right price. 

    Having grown up in Germany, I grew up with very structured, left brain thinking. 

    Coming to the U.S. I was in the corporate worlds - still structured, left brain thinking.

    When I lost my legal status, due to a corrupt immigration attorney, and was no longer employable and had to be my own boss - sink or swim - Real Estate investing taught me to go with the flow. That no matter how well you plan, things go wrong. And it taught me that I can deal with anything, as long as I have an open mind. I'm open to change my plans, if an interesting side road appears. 

    I'm not stuck on a destination, but enjoy the journey, as I'm traveling . 

    That's one of the most important things with real estate: It'll teach you to bend, or else you'll break.

    4Reply
  • Reginald S.
    Wholesaler · Manning, SC · Member since 2012 · 94 posts · 16 votes
    10y

    Your well on your way Nick. Much success! "I'll see you at the top!"

    2Reply
  • Michaela G.
    Investor · Atlanta, GA · Member since 2013 · 3k+ posts · 3k+ votes
    10y
    0Reply
  • Andre Key
    Investor · Austin, TX · Member since 2011 · 155 posts · 23 votes
    10y

    Nick,

    I will be honest you will take your bumps, and loses however you pay for every experience. You can go to school and take a class and pay $1,000's or jump in he game and have some victories and lose.  

    Keep in mind that the loses that you will take will be valuable lessons, things that sitting in a seminar or classroom couldn't give you.  You sound like you have multiple exit strategies so no matter what happens you have a solution being a landlord. While not glorious most landlords are providing a future for themselves, and no matter the market people will always need shelter.  Keep going and share your successes.

    4Reply
  • Jeffrey S. Breglio
    Attorney / Investor · Salt Lake City, UT · Member since 2015 · 228 posts · 198 votes
    10y

    To quote the Imitation Game: "Sometimes it's the very people who no one imagines anything of who do the things no one can imagine." 

    Stick with people who support and encourage you. Attending local REIAs is great because everyone there will be exactly what you need. Get educated, find an experienced mentor, read, watch, and then jump in with your excitement. :)

    Jeff

    2Reply
  • James B.Pro Member
    Investor · Monterey Area, CA · Member since 2011 · 150 posts · 81 votes
    10y

    @Nick Noon @Jay Hinrichs @Joshua La Pointe

    "Speak softly and carry a big stick; you will go far."

    - American president Theodore Roosevelt, January 26th, 1900. 

    4Reply
  • Teresa F.
    Residential Real Estate Broker · Clinton, MD · Member since 2008 · 297 posts · 178 votes
    10y

    Hi Nick!  This is so common.  It took me a long time to even mention that I was a real estate investor.  You never know the connections you will make just by putting yourself out there as an investor.  Yes there will always be naysayers.  But I have made some great connections and good friends just by identifying myself as a real estate investor.  By the way, the naysayers will be fewer and fewer as your friends and connections start introducing you as a "successful real estate investor."  : )    Best, Teresa

    4Reply
  • Jennifer Hollstein
    Home Rehabber · Rockaway, NJ · Member since 2014 · 62 posts · 24 votes
    10y

    You are talking to the wrong people. 

    One saying that is said often is you are the sum of the 5 people you hang out with the most. If you want to be successful at anything start hanging out and talking to people who are 10x more successful than you. It will only make you improve yourself.

    2Reply
  • Brett McCurdy
    Real Estate Broker · Kensington, MD · Member since 2014 · 84 posts · 16 votes
    10y

    @Nick Noon  Love the post.  I can see the passion that you will carry into the industry and show all the nay-sayers how it's done.  I hear these people all the time and it can start to be a cancer if your around them too long so watch out.  I guess the trick is to turn around what they say in your head into something constructive (your examples are exactly what I'm referring too).  

    Another reason that you will probably hear this from some people is because THEY want to offer YOU their services and convince you why you shouldn't enter the market yourself (applies to those active in RE market obviously) so they can benefit.  There are many people who are possesive by nature (if he has that then I should have that, if I have this then I want to keep others from getting it).  They also don't want anybody that they know nipping at their heels (future competition) which would make it harder for them to "keep up with the Jones".    

    3Reply
  • Michael Boyer
    Investor · Juneau, AK · Member since 2015 · 980 posts · 741 votes
    10y

    Neat topic.

    It is actually good to get this realization early and move on...

    When I rented my first place, a mid level condo rented to a ER doctor, I was really proud and told a colleague who called me a "slum lord".....  ( I was thinking like "really"... my community really needs housing and this is not slum and it is one unit, just below market rates that barely gets past break even....)... The response was not rational.

    So it was a rude awakening to what happens when you get people out of their comfort zone. If you are getting ahead and doing new things (be it real estate or other ventures) this is something some people are just not comfortable with...

    They can't really support your success or interests, so don't dwell on it or worry about negative stereotypes or horror stories.... Engage with positive people and look at what properties sold for in your area 20, 30, or 40 years ago and see if you might be on the right course economically...

    2Reply
  • David Faulkner
    Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    10y

    I may be unusual here, but I listen to all of the negative things they say. Then I figure out how I can structure my investments so that if those negative things happened, I'd still be ok. The more I think about those negative things, the more robust my investment plan becomes, and the more confident I become in my investments. In this way, I turn the negatives from them into a positive for me.

    5Reply
  • Doug N.
    Lynnwood, WA · Member since 2015 · 221 posts · 157 votes
    10y

    @Nick NoonGreat post, and I don't think it's a rant at all. You are actively listening to the criticism, re-framing a lot of it, and using it as motivation. That's called a positive outlook. 

    Best of luck, and post some more writing!

    3Reply
  • Mitchell Miller
    Royal, IA · Member since 2015 · 3 posts · 5 votes
    10y
    Originally posted by @Dev Horn:

    "There is only one way to avoid criticism: do nothing, say nothing, and be nothing." ~ Aristotle

    Love it!

    3Reply
  • Carol Zeroual
    Boxborough, MA · Member since 2014 · 230 posts · 62 votes
    10y

    Envision if you will, a bucket full of crabs. Every time one strives to make it out of the bucket, the other ones try to pull it back down. This is what it's like being a real estate investor. People are afraid for you to succeed. When you do, they have to look at their own failures.

    3Reply
  • Aaron Mazzrillo
    Investor · Riverside, CA · Member since 2011 · 2k+ posts · 3k+ votes
    10y

    One of the first rules of success is to surround yourself with the type of people you want to become. Sounds like you're still hanging around the wrong crowd.

    6Reply
  • Account Closed
    Realtor · Detroit, MI · Member since 2015 · 211 posts · 104 votes
    10y

    People succeed and people fail at some things that's just life, but you have to weigh the risk vs reward and the reward outweighs the risk when you are knowledgeable and have a great team! push on

    3Reply
  • Jarred Sleeth
    Investor · Austin, TX · Member since 2014 · 144 posts · 86 votes
    10y

    I don't think I can say anything that hasn't been said already, there are some great posts here. But, never listen to the kinds of people that tell you that you can't do something. What have they done for their lives? Most likely nothing. The kind of person that will encourage your efforts will also be the kind of person that will or has already found success too. Associate with those people that encourage you as much as possible.

    Good luck! I'm cheering you on.

    2Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    10y

    Prove them wrong. Once they see your success they will come around.

    1Reply
  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    10y
    Originally posted by @James Wise:

    Prove them wrong. Once they see your success they will come around.

     Unfortunately, not all of them....right @David Roberts

    0Reply
  • David Roberts
    Brownstown, MI · Member since 2014 · 344 posts · 98 votes
    10y

    Funny you mention that...still the case

    1Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    10y

    They did a senior nursing home survey across the country. They asked older people what they thought of the lives they had lived and if they would change anything what would it be?

    About 90 percent said they would have taken more chances and followed their dreams. The one thing they had now is REGRET. Not making the most out of that dash between their start date and end date in life.

    I can live with failure as it helps me learn. I can't live with not trying and thinking WHAT IF all the time yet that is what 99% of America does these days.

    BE a 1 percenter. It's not even about the money although that helps it is about achieving things so few people have the guts to try and be successful at it. Self-mastery and achieving higher and higher levels is tough but very full filling. My days are spent talking to millionaires and multi-millionaires all day long on the phone for commercial real estate investments. Different mindset then friends from high school who are still doing the same thing and work the J-O-B. I keep in touch but I go out maybe once every 3 or 4 months with old friends. Their mindset and lives are just too toxic to be around all the time with the thinking of ( go to work for someone else, make enough money to survive week to week, and hope the company doesn't go under and social security will take care of them when they retire. ) It's really sad actually that people depend on that strategy to get by.  

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    3Reply
  • Mya Austin
    Galion, OH · Member since 2015 · 24 posts · 6 votes
    10y

    Even after being in real estate for years . . . people (not all) seem to have the same sort of view.  & The truth is, every "bad thing" people have brought up CAN happen.  However, there are risks with most things. So, educating yourself, gleaning from people who have done the very thing we want to do, having the courage to step out and try, learn from trial and error, knowing we will likely make mistakes along the way- and being the best prepared we can be . . . . & As with anything else, it IS for some and NOT for others. 

    I don't know you but I support your vision. -As I do with what everyone here appears to be doing. A lot of people see real estate people as shady characters. Think they do a lot of nothing and make a lot of money.  Some have made much.  Many haven't.  The other thing people in real estate seem to have in common, is that entrepreneurial spirit- that zest to be able to visualize something, not just see the obstacles but see beyond them to the possibilities. & To "create".  & Most have a pretty good "drive".  They don't need two people to get them motivated to work or "do" things.  They self manage.  "Working" on this endeavor is something they actually enjoy.  & When not, they don't stick to it very long. 

    We are in a fast food world.  We want everything fast, . . . or most do.  Most don't want to slowly work on something and see the long term good, the "building up" of something more lasting than a momentary check and then HEY!-off to the next new thing. 

    I am sure we all have our own reasons besides roof over head and food in out stomachs that we are trying to do---whatever it is we are trying to do. 

    Mine---to be able to contribute to the things I believe & to establish some steady supplemental income so that I don't always have to work Monday through Friday unless I choose to.  :)  Now, . . . . ask me in a year------ those goals may be tweaked! 

    Next time, just smile and say "I appreciate you looking out for me," then do what you believe you want and can do.

    4Reply
  • Hugh Ayles
    Cedar Park, TX · Member since 2015 · 377 posts · 200 votes
    10y

    @Nick Noon

    One of my hobbies is triathlon.  You learn quickly not to talk to non-triathletes about it because you get a lot of negative comments.

    The same holds true with real estate.  Who cares what they think or say?

    You might find comments to think about, but largely don't let what they say waste any of your time.

    You may find you will develop a circle of people with whom you can talk real estate and a circle of people for whom you do not discuss it.

    1Reply
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